Last checked at 21 Jul 2015 07:00
21st July 2015
Mobile Streams plc ("Mobile Streams" or the "Company")
Full Year Trading Update
Mobile Streams PLC (AIM: MOS), the emerging markets focused mobile media company, provides an update to its shareholders on its unaudited financial and business performance for the 12 months ended 30th June 2015:
· Revenues of around £29m (12 months to end of June 2014: £48.6m)
· EBITDA* in line with market expectations (12 months to end of June 2014: £700,000)
· Cash of £2.9m, with no debt (12 months to end June 2014: £3.2m)
Commenting, Simon Buckingham, CEO said:
"Our core business based in Argentina has been challenging and in transition since the currency devaluation there in January 2014. We continue to diligently work to launch our mobile internet services in our principle target emerging markets of Brazil, India and Nigeria. These markets have been selected based on their size and market potential. We have been investing in developing our services in these markets for the past several months. We have already launched in Brazil and are working to launch in India and Nigeria.
As well as investing in new markets, the Company has worked to update its mobile content product portfolio, launching new premium products such as browser based games and high definition video streaming. These products command premium margins as well as higher customer satisfaction as compared to our traditional standard products.
Additionally, to complement its premium subscription business and appeal to more users across the mobile spectrum, the Company has developed new advertising supported services in the games and social networking spaces which we are in the process of launching. These ad-supported services are free for consumers to use, and are monetized by advertising. By offering both premium and ad-supported services, we can address more emerging market consumers.
We look forward to updating shareholders with our progress at our final audited results which we expect to report in October."
* EBITDA is defined as earnings before interest, tax, depreciation, amortization and share-based compensation.
Enquires:
Mobile Streams
+1 646 812 4749
Simon Buckingham, Chief Executive Officer
Enrique Benasso, Chief Financial Officer
N+1 Singer (Nominated Adviser and Broker)
+44 (0)20 7496 3000
Nic Hellyer
Richard Salmond
James Maxwell